Committee nixes retirement bill

Tuesday

Apr 23, 2013 at 10:44 AM

A bid to change the way retirement benefits are calculated for state employees, to prevent spikes in retirement checks and reduce costs for the state, failed to win support from the Senate Retirement Committee.

A bid to change the way retirement benefits are calculated for state employees, to prevent spikes in retirement checks and reduce costs for the state, failed to win support from the Senate Retirement Committee. The panel voted 4-2 against Senate Bill 7 by Sen. Barrow Peacock, R-Bossier City, which would have calculated the monthly retirement payment on an employee’s top five years of salary instead of three years.

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